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Online registration for foreign investors

 

Jun 06, 2015 03:40:47 PM

Online registration for foreign investors Fiji will soon launch online registration and approvals system for foreign investors.

The service will allow foreign investors to register, pay one collective fee and obtain certification from all tier one agencies, (which includes, Investment Fiji, Registrar of Companies, Reserve Bank of Fiji and Fiji Revenue and Customs Authority), from the comfort of their homes.

While addressing accounting professionals during a workshop at the KS International Asia Pacific Conference in Nadi, Minister for Industry, Trade and Tourism Faiyaz Koya said the online system will fast-track the registration and approval process, taking Fiji forward towards establishing a one stop shop for investors.

He said Government continues to ensure that mechanisms put in place are in the best interests of the nation while at the same time ensuring potential investors do not have to spend months to business operation in Fiji.

“Since 2009, an average of 27.3 per cent of the budget has been dedicated to capital expenditure, with 32 and 36 per cent put to capital in 2013 and 2014 respectively,” he said.

“In the past, before the Bainimarama Government, this figure was below 20 percent and in addition to the economic and infrastructure reforms, the Fijian Government is working on improving the efficiency of the civil service, through the Civil Service reforms and modernization of service delivery, and improving the performance of public enterprise and undertaking divestment of certain entities.”

“Public enterprises reforms will allow for introduction of new technology and expertise and provided an opportunity for the private sector to participate in these entities.

“We have created the best environment for investment and as stated earlier we are open for business, the opportunities are not limited to any one sector.  Fiji is also is becoming part of global value chains and there are synergies between our agriculture and tourism sectors and manufacturing and services sectors,” Minister Koya added.

By Reginald Chandar

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